News

Reserve Bank holds OCR at 5.5 percent

The Reserve Bank has left the official cash rate unchanged for a sixth consecutive meeting.

2024-04-10T02:14:25Z

Te Taumata to promote wāhine Māori in tech opportunities in the UK and European markets

'We are committed to supporting the growth of wāhine Māori in technology.'

2024-04-01T18:17:58Z

WorkSafe interim chief executive Steve Haszard resigns months into job

Steve Haszard is stepping down just months after taking the job at the beleaguered Crown agency.

2024-04-04T20:38:26Z

Trump's net worth plunges $1 billion

Some experts warn Trump Media's multibillion-dollar valuation defies logic and is reminiscent of the meme stock craze.

2024-04-02T01:31:10Z

Kiwis take advantage of record gold prices, cash in investments

Gold has historically held up well in times of high inflation, market volatility and geopolitical uncertainty.

2024-04-02T00:01:20Z

More optimism by busineses on economy - survey

More than half of business leaders are feeling more optimistic about economic outlook over the next 12 months.

2024-04-21T22:17:35Z

Breathe slow, never start too low: Former crisis negotiator's top tips for securing a deal

Lance Burdett knows how to talk criminals down - and says when asking for a raise or buying a house, many of the same principles can be applied.

2024-04-01T04:29:29Z

Shock inflation spike as cost of living soars

Hopes of an early interest rate cut have been dashed with a key measure of inflation rising in March. Here's what it means for you if you are battling higher mortgage repayments.

2024-04-24T02:21:10Z

SNP high taxes ARE driving away Scotland's top earners

More than 1,000 higher and top earners have quit Scotland to escape the SNP's punishing tax regime.

2024-04-24T22:09:19Z

'Challenging economic conditions': Air NZ announces yet another profit drop

The airline is blaming competition and cost of living pressures.

2024-04-21T22:44:47Z

Suncorp sells Asteron Life for $140m

The Australian financial services is selling its New Zealand life insurance business in a deal spanning months.

2024-04-03T22:41:06Z

Sharesies acquires equity management service Orchestra

Orchestra offers employee share ownership plans and share registry services to private companies in New Zealand and Australia.

2024-04-12T00:28:40Z

Financial advisor welcomes Govt's home loan and lending changes, says it allows banks to use 'common sense'

The Government said it would update the Credit Contracts and Consumer Finance Act (CCCFA).

2024-04-21T22:29:41Z

Major insurance company accused of misleading customers, thousands overcharged

The FMA said the insurers failed to correctly apply advertised discounts to affected customers' invoices, resulting in overcharged premiums.

2024-03-26T00:44:53Z

Mining firm Chatham Rock Phosphate sees share boost after making fast-track consents claim

it is second company in less than a week which the Infrastructure Minister has accused of being "misleading".

2024-04-11T07:32:19Z

Consumer confidence slides with confirmation of recession - ANZ survey

Consumer confidence has been knocked down putting an end to a steady improvement in sentiment over recent months.

2024-03-27T22:19:30Z

Taupō housing development with a focus on affordable homes

Plans are proceeding for a new major housing development in Taupō.

2024-04-25T04:25:32Z

First home buyers pick up quarter of properties for sale in March

Market conditions are set to favour first home buyers for the forseeable future, according to the latest report from CoreLogic.

2024-04-23T17:38:33Z

Shoppers save £1.3 BILLION hunting out supermarket deals, figures show

Around three in ten or 29.3 per cent of items were bought through some sort of promotion, which has been primarily promoted through Supermarkets loyalty card schemes.

2024-04-23T23:50:49Z

New Zealand economy shrinks, country in technical recession

Gross Domestic Product fell by 0.1 percent.

2024-03-20T22:08:01Z

Ryman Healthcare CEO Richard Umbers resigns

The company's performance has been below expectations in recent times, Ryman's chairperson says.

2024-04-22T02:33:05Z

Sharesies to host online trading of Fonterra shares

Co-chief executive Leighton Roberts said the agreement offered a new line of business and should improve liquidity in Fonterra shares.

2024-04-18T05:56:55Z

Heartland Group plans $210m raise to buy Australian bank

The takeover will make Melbourne-based Challenger Bank the only Australian bank fully owned by New Zealand interests.

2024-04-08T00:10:13Z

Why breaking your home loan contract might not be worth it: What you need to know

Explainer - As big banks reduce home loan interest rates, people might be tempted to shop around. But break fees can end up costing as much or even more than potential savings.

2024-03-14T05:10:15Z

IRD targets construction businesses failing to pay taxes

Inland Revenue is giving those in the construction industry a last chance warning to pay their taxes or it will identify them and take action.

2024-04-09T05:57:20Z

'Soft landing': Why global recession fears are being put to rest

"Pretty much everywhere you look over the last three months was positive."

2024-04-03T20:35:31Z

Interest deductibility for landlords unlikely to see rents fall

From 1 April, landlords will be again be able to claim tax deductions for interest on residential investment properties from, but will that mean lower rents?

2024-03-31T02:11:54Z

Crowdfunding service Equitise loses licence to operate

Crowdfunding investment service Equitise has lost its licence to operate.

2024-04-17T03:26:08Z

'Trade with caution' warning over new NZX listing Being AI

The stock exchange regulator has taken the unusual step after a surge in the company's share price.

2024-04-05T04:44:24Z

Former CBL boss cuts deal with Financial Markets Authority to settle case

The FMA said CBL managing director Peter Harris will admit keeping information from investors and issuing a deceptive statement to the stock exchange.

2024-03-25T00:57:56Z

Small retailers can have the edge by focusing on personal touch

Technology can provide more efficient customer service and lower costs but customers still prefer dealing with people, an e-commerce firm says.

2024-04-23T23:09:21Z

Interest rates: Borrowers try to second guess Reserve Bank

New data shows borrowers seem to have decided mortgage rates have peaked .

2024-04-17T18:11:31Z

Profit squeeze on the cards for New Zealand's big four banks - rating agency

The country's subdued economy will be felt in the performance of ASB, ANZ, BNZ, and Westpac, Fitch Ratings says.

2024-04-21T18:47:07Z

Major tax change for landlords confirmed - here's when it comes into force

David Seymour says it will ease pressure on rents.

2024-03-10T00:09:38Z

Inflation drops, borrowers take a gamble: Here's what moved the housing market this week

Analysis - Increasing stock levels are giving buyers more choice, with first-home buyers and owner occupiers the most active groups.

2024-04-19T09:12:41Z

RBNZ shuns Commerce Commission idea of reviewing banks' capital framework

Instead it is pushing for open banking and "disruption through innovation" to improve competition.

2024-04-23T19:38:52Z

Jacqui Lambie's radical overhaul call to rewrite real estate rules

The cross bench senators are pushing the Labor government to implement changes to negative gearing and to reduce investment property tax concessions.

2024-04-23T05:03:00Z

Simplicity takes 19pc stake in Tax Traders

Simplicity's managing director says the company is "delighted" to make the investment.

2024-03-25T19:14:41Z

Households, businesses facing tough economic times - survey

A cold patch has settled over the economy, according to a survey by Westpac.

2024-04-02T23:33:42Z

Australia's best companies to work for revealed - so is yours listed?

The eighth annual LinkedIn Top Companies list outlines which businesses are top of the pile for employee flexibility and the opportunity for career growth in Australia.

2024-04-25T07:25:43Z

Banking sector lacks competition - Commerce Commission draft report

The banking sector lacks competition and disruptive forces to drive change and deliver benefits to consumers, a Commerce Commission draft report says.

2024-03-20T20:07:56Z

Spark tight-lipped over job cuts after restructure meeting

Telecommunications giant Spark is remaining tight-lipped over how many jobs it plans to cut after a restructure meeting with its staff on Thursday morning.

2024-03-14T04:10:08Z

Budget Policy Statement: Willis promises cuts despite late return to surplus

The government's books are in worse shape than thought but the Finance Minister says she will deliver.

2024-03-27T00:17:23Z

Building product concerns dismissed: 'The industry is lacking competition'

Construction industry concerns about a potential drop in the quality of building products have been brushed aside as superficial.

2024-04-25T05:13:42Z

Elevated inflation will likely delay rate cuts this year, says Fed chair Jerome Powell

Jerome Powell opens the door to a period of higher-for-longer rates.

2024-04-17T00:06:39Z

Washing machine have energy-use ratings, will some homes get them too?

Energy efficiency ratings for buildings are on hold, while the government decides whether to intervene to improve the country's housing.

2024-04-16T18:40:14Z

Synlait investors crossing fingers as troubled milk producer releases first-half results

Investors will be looking for a resolution to Synlait's debt situation when it releases its first-half result Tuesday morning.

2024-03-31T17:43:27Z

Why Australia's housing crisis is expected to get even worse

The troubling state of the housing market has home-building industry groups, social welfare advocates and federal independents crying out for more action before the May 14 budget.

2024-04-23T00:32:15Z

PGW cuts earnings forecast by $7m

Weaker agricultural market conditions have forced the rural services company to cut its full-year earnings forecast.

2024-04-18T00:26:41Z

How to get $110 off your power bill through little-known scheme

Kiwis facing higher power charges could be eligible for help.

2024-04-17T22:43:59Z

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